Press Room

San Jose, CA, April 11, 2012– NES Financial, the nation’s leading provider of escrow administration technology and services to the EB-5 industry, announced that Green Card Fund, LLC has implemented the company’s EB-5 Escrow Administration Solution to administer funds associated with the EB-5 Regional Center’s Odyssey Preparatory Academy Charter School project in Casa Grande, Arizona.

When searching for an escrow solution, Green Card Fund, LLC saw value in NES Financial’s multifaceted solution. NES Financial’s technology, EB-5 expertise and dedicated client services team make a unique combination in the industry. Green Card Fund, LLC came to NES Financial for a solution that would streamline their escrow processes, reduce costs and improve operational efficiency.

“Green Card Fund, LLC is pleased to have selected NES Financial’s EB-5 Escrow Administration Solution,” said Green Card Fund’s Managing Director, Girish C. Patel. “We have found that their client services team has extensive knowledge and experience in the nuances of EB-5 escrow administration and this has been a great benefit in our capital raise efforts.”

Green Card Fund, LLC raised capital to support the Odyssey Preparatory Academy Charter School in Casa Grande, Arizona. The development project is expected to create U.S. jobs in a Targeted Employment Area— a rural area or an area experiencing unemployment of at least 150 percent of the national average rate. The school, once completed, is expected to support an enrollment of 600 students in grades K-8.

During the investor’s I-526 application process, EB-5 Regional Centers work with NES Financial to place investors’ deposits in escrow pending their I-526 application approval by the U.S. Citizenship and Immigration Services.

“Many financial institutions are still unfamiliar with the EB-5 Program,” said NES Financial’s CEO and President, Michael Halloran. “NES Financial identified this industry as one where our solution would benefit all members of the EB-5 ecosystem, including Regional Centers, foreign investors, immigration attorneys and banks. Today we are delighted to have the market leadership position in EB-5 escrow administration and to work with leading Regional Centers like Green Card Fund, who are committed to the best practices in the EB-5 industry and to helping create U.S. jobs.”

Green Card Fund, LLC is an approved Regional Center headquartered in Scottsdale, Arizona. Green Card Fund is part of the Bedford International family of companies and is a wholly owned subsidiary of Bedford Venture Group. Over the past 19 years, Bedford has provided billions of dollars in commercial real estate financing, with borrowers in all 50 states. Leveraging our underwriting experience, GCF meticulously reviews each project, focusing on job creation, financial solvency, and exit plan viability. Once a project is signed on by GCF, we have full confidence in its ability to create the requisite amount of jobs, execute on the business plan presented, make timely interest payments to all investors, and return the initial investment capital on or ahead of schedule.